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Weekly CNFT Brew
Your 15-minute catch-up on the CNFT world as you enjoy a nice brew. Through research and help from my community, I bring you CNFT news, market analysis, the ArtBeat, and more. Happy reading.
The Highlights
SundaeSwap went live with their beta mainnet last Thursday, an event many Cardano fans had been looking forward to. Although smooth for the most part, many people were unable to scoop up some Sundae due to network congestion and not setting large enough slippage tolerance.
The biggest controversy was perhaps the fact that a user was able to post an order before the exchange opened, something made possible by their permissionless system. The price of $Sundae went as high as 1ADA but currently sits at 0.82 ADA.
SOHO Kids launched their highly anticipated 5k collection this weekend, although not without issues. Unfortunately, their whitelist raffle system failed and people could mint multiple NFTs without being whitelisted. This caused a lot of frustration and formed a dark cloud over an otherwise exciting project. Floor prices steadily rose to ₳400 but are now trending back down at around ₳350 at the time of writing.
NFT-Maker Pro has received some criticism lately after their service experienced some serious hiccups during this period of extreme blockchain load. This had Patrick Tobler take a somewhat defeatist tone on Twitter.
Benjamin's Group successfully sold out their 10k egg collection. Buyers are currently feeling happy as the floor price has risen to ₳200 since the sellout. BC also continues its first collaboration with Cycl:r, which revealed their cycle NFTs this weekend. They have created many great collaborative bike designs, including their Yummi, Clay, and ABHS bikes, and the next minting window opens this Wednesday.
Rats Dao dropped 1/3 of their 10k collection/memberships last week, selling out in a matter of minutes. They used the funds to add a Berry and a collection of PXLz, SpaceBudz, and Clays to the community wallet. DAOs continue to be a popular topic in the space and new DAOs introduced almost daily.
Yummi Universe teased upcoming announcements starting early last week. This caused an immediate increased Yummi sales on the secondary market. Announcements included seasonal drops, a Yummi convention, London ad campaign, staking, and even a P2E game.
CCVault has received some well-deserved attention since congestion has rendered the Nami wallet almost useless. Not only can users now use CCVault on JPG.store and CNFT.io, but they also have made significant upgrades this past week. To top it off, their CNFT project "Mesmerizer" sold out this weekend, providing a great source of funding for future development.
CNFT Awards is something the community has been asking for for some time now and is finally being organized. Nominations are now being accepted with more details on the awards show to come.
Twitter finally launched their NFT profile pictures. The feature is only being rolled out to Twitter "Blue" subscribers for now and allows users to integrate with popular NFT wallets, such as Metamask, and display as their profile photo. Hopefully, Twitter will integrate with a Cardano wallet in the near future.
Masked On Buttons announced MOB City, a collection of animated cityscapes and soundtrack NFTs, which will include clues to find The Forbidden one.
Buffy Bot released details on this years CNFTCon event in Las Vegas and announced a collaboration with Clay Mates for their ticket sales. Tickets start at 60 ada and first 5k buyers will receive a special edition Clay Buffy Bot.
Aeoniumsky announced a collaboration with Cardania. The partnership will bring extra resources to Aeoniumsky, including a new minting system and see future collaborations and crossovers into the Cardania Metaverse.
This Week
It's another exciting week for CNFTs, both for new and existing projects:
Zombie Hunters has finished their pre-sale but will open minting for the public this Wednesday at 5PM UTC.
When: Jan 26th, 5PM UTC
How much: 60 ADA
How many: 10k
Cycl:R has currently sold 3881 NFTs but their mint continues this Wednesday at 7PM UTC and will be open for 24 hours. The collection was recently listed on cnft.tools.
When: Jan 26th, 7PM UTC
How much: 250 ADA (for 2)
How many: 8,888
Ada Apocalypse is airdropping their Horders Collection today at 5PM UTC. The snapshot has already been taken, so if you own 4 or more OG Zombies, you can expect an airdrop today.
When: Jan 25th
How much: 0
How many: 1 for 4
ADApes releases their S2 collection of apes on Thursday, 5PM UTC.
When: Jan 27th, 5PM UTC
How much: 40 ADA
How many: 1,111
Rebellion is an exciting project that has captured the community's attention with its high-quality art. They have seen significant growth over the past couple of weeks and plan on dropping their collection this Sunday at 5PM UTC
When: Jan 30th, 5PM UTC
How much: 46 ADA
How many: 6,789
Market Analysis
Things started to cool down a bit last week, recording the second lowest volume of 2022 on Friday. The Soho Kids drop boosted the volume, however, and we ended the week with a 21% increase in volume.
Perhaps more worryingly for Cardano fans was the significant drop in ADA value, as the entire market crashed. Ada dipped as low as $0.94, a price that we haven't seen in a long time. Although most of us hope that we have seen the bottom, many experts expect the bleeding to continue throughout Q1. But how will this affect CNFT sales?
If recent weeks are any indicator, it doesn't necessarily have to be a bad thing. New people enter the space when they can buy ADA for cheap and the old cliché of "1 ADA = 1 ADA" has some truth to it. Despite this nasty correction on the crypto markets, most investors still believe we are in a macro bull run and maybe that explains why so many people choose to stick around.
The numbers:
Total ADA volume: ₳14.54 million (21.5%)
Total CNFT Volume: 37,886 (-5.5%)
Top Marketplace Gainer: PXLz (215%)
Biggest Marketplace Loser: SpaceBudz (-34%)
Top Gainers*
CCVault.io (8838%)
cMETA.space (5517%)
ADA Ninjaz (3602%)
Yummi Universe (2436%)
Swanky Swimmers (1704%)
Top Losers*:
Wood Lords (-89%)
Cute Dudes (-87%)
PaperBoxEra (-87%)
ADABullsClub (-81%)
Old Money (-80%)
Top Newcomers
Soho Kids: ₳520K volume, ₳360 floor
Bears With Problems Club: ₳88K, ₳65 floor
Zombie Hunters: ₳68K, ₳210 floor
Top 3 sales:
Berry Cardinal: ₳115,000
Pavia: ₳60,000
Pavia: ₳45,000
*Only projects that record at least 5k volume over the past 7 days are included
The ArtBeat
Mesmerizer by CCVault and Tastenkunst sold out this weekend, perhaps faster than most expected. This high-quality 10k generative art collection lives completely on-chain and has 5 rarities and the sellout instantly makes it one of the most successful gen-art projects in Cardano's history.
Threefold Bold released another collection in collaboration with Atreyu, Fwltur, and Taste32. The unusual collection comes in 3 different designs, all of which include an audio track.
Geist AI Co.Lab is an interesting project that offers a cross-section of watchmaking, AI, and 3D art. The company designs physical watches that are paired with NFTs and secured on the blockchain.
Underrated
These are this week's most underrated investment opportunity and artist. This is a highly subjective section so please DYOR.
Investment Opportunity: CryptoDino
CryptoDino is an OG project that continues to go under the radar. The team has proven its quality and ability to deliver on its promises and execute an ambitious roadmap. With breeding and P2E on the horizon, now would be a good time to invest in this high-quality pre-smart contract project. We have already seen prices skyrocket for other projects with similar roadmaps, such as Yummi Universe and Macossi.
Artist: Visage
Not only do I think that Visage's project is underrated in terms of its artistic value it brings to Cardano, but I also think it's underrated on the secondary market and presents a possible investment opportunity. This unique project offers 1k hand-drawn pfps/faces and has already made history by being the first and only project to do so. In my personal opinion, this will become a very popular project among a certain demographic and gain a cult following.
Rugpull Watch
Although not technically a CNFT rugpull, it's worth mentioning the CardStarter controversy, best explained in the tweet below:
Another project worth mentioning is not technically a rug pull, but is blatantly copying the BAYC artwork and bringing it to Cardano. Please stay away.
Viking Squad Updates
Discord Server:
We broke 300 members on Discord! Come join the CNFT conversation.
Check out CardanoThor's community on Discord - hang out with 317 other CNFT creators and collectors.
New video coming out today! Check out the latest video, an interview with Soho Kids creator Oxy:
Twitch Streaming Schedule:
Wednesday 8PM UTC
Friday, 8PM UTC
As I finalize a chat with an exciting project this week, please note that these times could change. All changes will be announced on Twitter or in Discord.
Twitter: Most popular (non-giveaway) tweet of the week